Letterman, the longest-standing late-night show host in the history of television, announced the news on air Thursday. He informed fans that he will retire after his contract with the network expires in 2015. “We don’t have the timing of this precisely down. It will be, I think, at least a year or so, but sometime in the not-too-distant future — 2014, for the love of God — Paul and I will be wrapping things up and taking a hike,” he said.

CBS president and CEO Leslie Moonves said she saw the day coming. “When Dave decided on a one-year extension for his most recent contract, we knew this day was getting closer,” she said,”but that doesn’t make the moment any less poignant for us.”

The news of Letterman’s retirement came just three months after Leno’s departure from NBC’s “Tonight Show.” Jimmy Fallon took over in February and he’s doing spectacularly well, we must add.

Now since there’s a rare spot open in the lineup, let’s find an awesome woman to take charge! There are plenty of funny comediennes with the audience and body of work to run a successful late-night show. Maya Rudolph, Retta, Wanda Sykes and/or Chelsea Handler are my picks!